StockMarketWire.com - Phoenix Global Mining said there had been a substantial increase in the resource estimate at its Empire copper mine in Idaho.

The measured and indicated resource had risen by 46% to 15.2m tonnes.

The company said it would fast track into production of a low capital cost open pit mine, with a planned annual production rate of 8,000 tonnes of copper and zinc at an average head grade of 0.61% copper.

'Our team will look to optimise the project economics as we progress the Bankable Feasibility Study, as well as evaluating the potential for early cash flow from the gold and the silver,' chief executive Dennis Thomas said.


At 9:21am: [LON:PGM] Phoenix Global Mining Limited Ord Npv Di share price was +0.5p at 15.5p



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